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Travel Service stake sold by Icelandair

Icelandair (FI, Reykjavik Keflavik) has sold its 30% minority stake in Czech leisure carrier Travel Service Airlines (QS, Prague Václav Havel) to the other shareholders without disclosing further details. Unimex Group is Travel Service's largest shareholder. It also owns Canaria Travel, one of the largest tour operators in the Czech Republic and one of Travel Service's key customers.

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PLAY (Reykjavik Keflavik), the Icelandic low-cost carrier startup that had intended to launch services in winter 2019, now plans to commence operations this autumn, chief executive Arnar Már Magnússon has revealed.

Despite the complications posed in the coronavirus era, the airline is still sufficiently well funded, he assured.

“We could manage to start in just days or weeks. But we are currently planning on starting later on towards the autumn, in terms of scheduled flights, though we could start sooner if needed,” Magnússon told the Icelandic broadcaster RÚV.

The company has “already secured several” A320 Family aircraft and “we have good access to more of them,” he said.

“We already have crews for the start, and we also have access to the wonderful former employees of [bankrupt carrier] WOW air, who are of course trained to work with this type of aircraft,” Magnússon said, adding that the company currently employs 36 people.

“There are sufficient resources for PLAY to operate. The company has strong ownership, and Elías Skúli Skúlason is leading...